Autonomous Underwater Vehicles Market
The Autonomous Underwater Vehicles market was valued at USD 1.5 billion in 2020 which expected to reach USD 4.3 billion by 2027 at a CAGR 10.9% from 2020-2027.
Autonomous underwater vehicles are useful for a variety of missions, including shipwrecks, mapping rock formations, and other hazards that may pose a hazard to recreational and commercial navigation vessels. Autonomous underwater vehicles are outfitted with cutting-edge sensor technologies, such as sonar systems and oceanographic sensors, that allow them to complete the entire mission without the need for operator intervention.
Market Drivers
Defense spending is increasing in a number of countries around the world.
Security concerns, as well as concerns about contested territories and threats, have resulted in a significant increase in global defence spending. AUVs are used by defence forces for mine countermeasures, rapid environmental assessment, intelligence, surveillance, and reconnaissance, harbor protection and port clearance operations, and anti-submarine warfare. As a result, AUVs are expected to be used more frequently in the coming years to combat underwater security threats, resulting in global market growth.
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Market Restraints
AUVs have high operating costs.
AUVs are high-priced maritime systems. The A18 AUV (ECA GROUP), for example, has a depth rating of up to 3,000 m and a price range of USD 2–6 million. The deployment costs of AUVs used in exploration or surveying activities increase the overall cost of exploration and surveying missions. Furthermore, the high costs of maintenance, manufacturing, R&D, and system complexity associated with AUVs are slowing their adoption, despite the fact that they are increasingly being used in simple missions such as environmental monitoring.
Impact of COVID-19
COVID-19's impact on the AUV market and consumer demand is currently unknown. However, it is expected that there will be a short-term reduction in AUV production because the oil and gas industry, which is the largest consumer of AUVs, is experiencing a shortage of oil and gas. Travel restrictions imposed in a number of countries, including Albania, Armenia, Australia, Azerbaijan, Bosnia and Herzegovina, Brunei Darussalam, Canada, Japan, Jordan, New Zealand, Qatar, the Republic of Moldova, Saudi Arabia, Serbia, Singapore, South Korea, Ukraine, and China, are causing a shortage in demand for oil and gas.
Market Segmentation
The Autonomous Underwater Vehicles Market is segmented into Technology, Shape, Payload Type and Application. By Technology such as Collision Avoidance, Communication, Navigation, Propulsion, Imaging. Further, market is segmented into By Shape such as Torpedo, Laminar Flow Body, Streamlined Rectangular Style, Multi-hull Vehicle. By Payload Type such as Cameras, Sensors, Synthetic Aperture Sonar, Echo Sounders, Acoustic Doppler Current Profilers, Others. By Application such as Military & Defense, Oil & Gas, Environment Protection & Monitoring, Oceanography, Archeology & Exploration, Search & Salvage Operations.
Regional Analysis
Autonomous Underwater Vehicles Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific has the largest market share. The market for autonomous underwater vehicles (AUVs) in APAC has been divided into three segments: China, Japan, and India, which are the fastest-growing markets for AUVs. Increased military spending, rising energy demand in emerging economies, and increased adoption of AUVs in a variety of applications are propelling the APAC AUV market forward. In recent years, there has been a significant increase in the demand for AUVs for mine exploration and oceanographic studies. Furthermore, the growing military capabilities of developing nations such as India and South Korea are expected to drive APAC demand for AUVs.
Key Players
Various key players are listed in this report such as Teledyne Technologies (US), Fugro (Netherlands), Bluefin Robotics (General Dynamics) (US), and Saab AB (Sweden) ECA GROUP (France), Lockheed Martin Corporation (US), ATLAS ELEKTRONIK GmbH (Germany), L3Harris Technologies (US), Boston Engineering Corporation(US)
Market Taxonomy
By Technology
By Shape
By Payload Type
By Application
By Region
Key Questions Addressed by the Report
Autonomous Underwater Vehicles Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Autonomous Underwater Vehicles Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Autonomous Underwater Vehicles Market, By Technology
5.1 Y-o-Y Growth Comparison, By Technology
5.2 Autonomous Underwater Vehicles Market Share Analysis, By Technology
5.3 Autonomous Underwater Vehicles Market Size and Forecast, By Technology
5.3.1 Collision Avoidance
5.3.2 Communication
5.3.3 Navigation
5.3.4 Propulsion
5.3.5 Imaging
6 Autonomous Underwater Vehicles Market, By Shape
6.1 Y-o-Y Growth Comparison, By Shape
6.2 Autonomous Underwater Vehicles Market Share Analysis, By Shape
6.3 Autonomous Underwater Vehicles Market Size and Forecast, By Shape
6.3.1 Torpedo
6.3.2 Laminar Flow Body
6.3.3 Streamlined Rectangular Style
6.3.4 Multi-hull Vehicle
7 Autonomous Underwater Vehicles Market, By Payload Type
7.1 Y-o-Y Growth Comparison, By Payload Type
7.2 Autonomous Underwater Vehicles Market Share Analysis, By Payload Type
7.3 Autonomous Underwater Vehicles Market Size and Forecast, By Payload Type
7.3.1 Cameras
7.3.2 Sensors
7.3.3 Synthetic Aperture Sonar
7.3.4 Echo Sounders
7.3.5 Acoustic Doppler Current Profilers
7.3.6 Others
8 Autonomous Underwater Vehicles Market, By Application
8.1 Y-O-Y Growth Comparison, By Application
8.2 Autonomous Underwater Vehicles Market Share Analysis, By Application
8.3 Autonomous Underwater Vehicles Market Size and Forecast, By Application
8.3.1 Military & Defense
8.3.2 Oil & Gas
8.3.3 Environment Protection & Monitoring
8.3.4 Oceanography
8.3.5 Archeology & Exploration
8.3.6 Search & Salvage Operations
9 Autonomous Underwater Vehicles Market, By Region
9.1 Autonomous Underwater Vehicles Market Share Analysis, By Region
9.2 Autonomous Underwater Vehicles Market Share Analysis, By Region
9.3 Autonomous Underwater Vehicles Market Size and Forecast, By Region
10 North America Indoor Farming Market Analysis and Forecast (2021-2027)
10.1 Introduction
10.2 North America Indoor Farming Market Share Analysis, By Technology
10.3 North America Indoor Farming Market Size and Forecast, By Shape
10.4 North America Indoor Farming Market Size and Forecast, By Payload Type
10.5 North America Indoor Farming Market Size and Forecast, By Application
10.6 North America Indoor Farming Market Size and Forecast, By Country
10.7.1 U.S.
10.7.2 Canada
10.7.3 Mexico
11 Europe Indoor Farming Market Analysis and Forecast (2021-2027)
11.1 Introduction
11.2 Europe Indoor Farming Market Share Analysis, By Technology
11.3 Europe Indoor Farming Market Size and Forecast, By Shape
11.4 Europe Indoor Farming Market Size and Forecast, By Payload Type
11.5 Europe Indoor Farming Market Size and Forecast, By Application
11.6 Europe Indoor Farming Market Size and Forecast, By Country
11.6.1 Germany
11.6.2 France
11.6.3 UK
11.6.4. Rest of Europe
12 Asia Pacific Indoor Farming Market Analysis and Forecast (2021-2027)
12.1 Introduction
12.2 Asia Pacific Indoor Farming Market Share Analysis, By Technology
12.3 Asia Pacific Indoor Farming Market Size and Forecast, By Shape
12.4 Asia Pacific Indoor Farming Market Size and Forecast, By Payload Type
12.5 Asia Pacific Indoor Farming Market Size and Forecast, By Application
12.6 Asia Pacific Indoor Farming Market Size and Forecast, By Country
12.6.1 China
12.7.2 Japan
12.8.3 India
12.9.4. Rest of Asia Pacific
13 Latin America Indoor Farming Market Analysis and Forecast (2021-2027)
13.1 Introduction
13.2 Latin America Indoor Farming Market Share Analysis, By Technology
13.3 Latin America Indoor Farming Market Size and Forecast, By Shape
13.4 Latin America Indoor Farming Market Size and Forecast, By Payload Type
13.5 Latin America Indoor Farming Market Size and Forecast, By Application
13.6 Latin America Indoor Farming Market Size and Forecast, Country
13.7.1. Brazil
13.8.2. Rest of Latin America
14 Middle East Indoor Farming Market Analysis and Forecast (2021-2027)
14.1 Introduction
14.2 Middle East Indoor Farming Market Share Analysis, By Technology
14.3 Middle East Indoor Farming Market Size and Forecast, By Shape
14.4 Middle East Indoor Farming Market Size and Forecast, By Payload Type
14.5 Middle East Indoor Farming Market Size and Forecast, By Application
14.6 Middle East Indoor Farming Market Size and Forecast, By Country
14.7.1. Saudi Arabia
14.8.2. UAE
14.9.3. Egypt
14.10.4. Kuwait
14.11.5. South Africa
15Competitive Analysis
15.1 Competition Dashboard
15.2 Market share Analysis of Top Vendors
15.3 Key Development Strategies
16 Company Profiles
16.1 Teledyne Technologies
16.1.1 Overview
16.1.2 Offerings
16.1.3 Key Financials
16.1.4 Business Segment & Geographic Overview
16.1.5 Key Market Developments
16.1.6 Key Strategies
17.2. Fugro
17.2.1 Overview
17.2.2 Offerings
17.2.3 Key Financials
17.2.4 Business Segment & Geographic Overview
17.2.5 Key Market Developments
17.2.6 Key Strategies
17.3. Bluefin Robotics
17.3.1 Overview
17.3.2 Offerings
17.3.3 Key Financials
17.3.4 Business Segment & Geographic Overview
17.3.5 Key Market Developments
17.3.6 Key Strategies
17.4 Saab AB.
17.4.1 Overview
17.4.2 Offerings
17.4.3 Key Financials
17.4.4 Business Segment & Geographic Overview
17.4.5 Key Market Developments
17.4.6 Key Strategies
17.5 ECA GROUP
17.5.1 Overview
17.5.2 Offerings
17.5.3 Key Financials
17.5.4 Business Segment & Geographic Overview
17.5.5 Key Market Developments
17.5.6 Key Strategies
17.6 Lockheed Martin Corporation
17.6.1 Overview
17.6.2 Offerings
17.6.3 Key Financials
17.6.4 Business Segment & Geographic Overview
17.6.5 Key Market Developments
17.6.6 Key Strategies
17.7 ATLAS ELEKTRONIK GmbH
17.7.1 Overview
17.7.2 Offerings
17.7.3 Key Financials
17.7.4 Business Segment & Geographic Overview
17.7.5 Key Market Developments
17.7.6 Key Strategies
17.8 L3Harris Technologies
17.8.1 Overview
17.8.2 Offerings
17.8.3 Key Financials
17.8.4 Business Segment & Geographic Overview
17.8.5 Key Market Developments
17.8.6 Key Strategies
17.9 Boston Engineering Corporation
17.9.1 Overview
17.9.2 Offerings
17.9.3 Key Financials
17.9.4 Business Segment & Geographic Overview
17.9.5 Key Market Developments
17.9.6 Key Strategies